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Last Notes

2023-06-07 23:03:30 UTC

- reply

📅 Original date posted:2022-02-14
📝 Original message:Hello,
I'm opposed to recursive covenants because they allow the government to _gradually_ restrict all bitcoins.
Without covenants, other miners can fork to a free blockchain, if the government tells miners each transaction to be added in the block. Thus the government cannot impose desires on the Bitcoin community. With covenants, the government gradually forces all companies to use the permissible covenants. There is no free blockchain, and the government controls more bitcoins each day.
Bitcoin experts Greg Maxwell and Peter Todd explained this reason and many others on the forum.[1] More experts also agreed, and it's common knowledge. I strongly recommend to support the OP_CHECKTEMPLATEVERIFY. It is well reviewed, and it protects the Bitcoin community from the bad effects of covenants. With OP_CHECKTEMPLATEVERIFY, we achieve the best of both worlds.
With best regards,
Lucky Star
[1] Maxwell, Greg. "CoinCovenants using SCIP signatures, an amusingly bad idea." https://bitcointalk.org/index.php?topic=278122.0;all
> On Mon, Feb 07, 2022 at 08:34:30PM -0800, Jeremy Rubin via bitcoin-dev wrote:
> > Whether [recursive covenants] is an issue or not precluding this sort
> > of design or not, I defer to others.
>
>
> For reference, I believe the last time the merits of allowing recursive
> covenants was discussed at length on this list[1], not a single person
> replied to say that they were opposed to the idea.
>
>
> I would like to suggest that anyone opposed to recursive covenants speak
> for themselves (if any intelligent such people exist). Citing the risk
> of recursive covenants without presenting a credible argument for the
> source of that risk feels to me like (at best) stop energy[2] and (at
> worst) FUD.
>
>
> -Dave
>
>
> [1] https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2021-July/019203.html
> [2] http://radio-weblogs.com/0107584/stories/2002/05/05/stopEnergyByDaveWiner.html
> (thanks to AJ who told me about stop energy one time when I was
> producing it)
>
>
> _______________________________________________
> bitcoin-dev mailing list
> bitcoin-dev at lists.linuxfoundation.org
> https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev
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